Americans spent $56 billion on pets in 2013

Americans spent a record $55.7 billion on their pets last year, an industry trade group said Thursday, a figure that could increase to a whopping $60 billion this year. The amount Americans shelled out for puppy chow, cat litter, toys, grooming and all matter of indulgences last year is equivalent to the gross domestic product of Croatia, and $10 billion more than Germany’s entire defense budget.

The American Pet Products Association, which has been tracking spending on pets since the mid-1990s, unveiled the latest figures Thursday during the Global Pet Expo in Orlando, Fla. Spending increased 4.5 percent from 2012 to 2013. …